Write up26 Jan 2021 07:38
LONDON, Jan 26 (Reuters) - Britain's Rolls-Royce
revised down its forecasts for 2021 on Tuesday saying that it
now expected aeroplane flying hours to be about 55% of 2019
levels this year, compared to a previous base case forecast of
70% given last October.
The company said that less flying would mean it loses more
cash, and it was now expecting free cash outflow of 2 billion
pounds ($2.7 billion) for 2021, but stuck by its forecast to
turn cash flow positive at some point during the second half of
the year.